Proposal to Incorporate Accessibility of Financial Services in Enabling Masterplan 2030
Ministry of Social and Family DevelopmentSpeakers
Summary
This question concerns Mr Ong Hua Han’s proposal to refresh the Enabling Masterplan 2030 to incorporate financial services accessibility in line with international rights conventions. Minister for Social and Family Development Masagos Zulkifli B M M responded that the plan continues to evolve, noting physical improvements such as ramps, lowered counters, and “Talking ATMs.” He highlighted that the Monetary Authority of Singapore updated its Guidelines on Fair Dealing in May 2024 to formalize expectations for the objective assessment of financial product applications. These initiatives involve enhancing infrastructure, staff training, and systems to assist persons with disabilities in performing transactions independently. This approach ensures that financial institutions provide consistent and fair access to services through reliable data and inclusive procedures.
Transcript
66 Mr Ong Hua Han asked the Minister for Social and Family Development whether he will consider refreshing the Enabling Masterplan 2030 to incorporate the accessibility of financial services for consistency with the Convention on the Rights of Persons with Disabilities.
Mr Masagos Zulkifli B M M: The Enabling Masterplan 2030 (EMP2030) covers areas across the life stages of persons with disabilities, and efforts under EMP2030 will continue evolving to meet the support needs of persons with disabilities. This includes efforts in improving the accessibility of financial services.
Financial institutions have made improvements to enhance the accessibility of financial services for persons with disabilities. These include infrastructure, systems, procedures and staff training to assist persons with disabilities. For example, financial institutions have installed ramps and lowered counters to enhance accessibility for customers in wheelchairs. Banks have also introduced “Talking automated teller machines (ATMs)” with Braille instructions and audio guidance to help customers with visual impairment perform basic ATM transactions independently.
The Monetary Authority of Singapore has also recently updated its Guidelines on Fair Dealing on 30 May 2024. The Guidelines formalise, amongst other things, expectations for financial institutions to ensure that all customers’ applications for financial products and services are assessed objectively, based on relevant and reliable information or data.